S&P 500 Hits Record High Amid Inflation Data and Earnings Reports

Wall Street ended the week mixed as investors weighed inflation data and corporate earnings. The S&P 500 hit another record high, despite a mixed performance from major indices.

The July Consumer Price Index (CPI) rose 3.4% year-over-year, easing slightly from 3.5% in June and matching expectations. Core inflation slowed to 2.5%, while the Producer Price Index (PPI) was unchanged.

Several key earnings reports were released this week, including results from Cisco Systems, The Boeing Company, Applied Materials, Super Micro Computer, Broadcom Inc., Nebius Group N.V., Lumentum Holdings Inc., Rocket Lab Corporation, Archer Aviation Inc., and Reddit Inc. These stocks saw significant price movements as investors digested the latest financial data.